The medical industry is a tricky one to follow. It’s a secluded industry that’s shielded behind complicated terms that clueless laymen could never understand. However, as confusing as those terms may be, it’s sometimes easy to see that changes are happening to the medical industry. These new and unique trends will ultimately shape how health care in the developed world will be distributed to the masses, and it’s time to shed some light on those trends in order to help you understand why and how these changes will affect you. These are, of course, only trends that could die out or grow and take centre stage, so take everything with a grain of salt.

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Patient-First Businesses

The pharmaceutical industry is setting its sights on patient-first business models now, but there are very few companies that can successfully provide this level of service to the masses. Engaging with patients is one of the most effective ways for pharmaceutical companies to report on the effectiveness of medication and treatments. Much of this information has to be shared, however. Although often anonymous, turning someone into a case study for everyone to see is sometimes embarrassing for the patient and it may interfere with their civil rights and privacy.

However, PWC conducted a survey and it showed that around 88% of people were willing to let their doctors share their personal information for the sake of improving treatments. This falls to 78% when it concerns the local health system, 70% when it involves a university and only 53% to the drug company. This is a clear distinction and it shows that patients are more willing to share information when it involves people they are closely affiliated with, and it shows a lack of trust with pharmaceutical companies themselves.

Branded Cannabis

Thanks to the legalisation of marijuana in various parts of the world, there’s an emerging industry that revolves around the infamous recreational drug and it seems like there’s no stopping the train. In fact, it’s becoming such a huge deal that roughly $7 billion was made in sales in 2016 alone for legal sales. Thanks to the exceptional cannabis attorney services that are now offered as a result of this growth, more and more startups are taking on cannabis industry and developing new products.

Some are simply pill versions of the infamous drug, some isolate the beneficial effects while removing the recreational effects, and others are creating entire brands around their product. There’s a lot of business to be had in this industry, and only time will tell if it becomes widely accepted across the world.

Company Collaboration

2016 was a fantastic year for pharmaceutical companies because of the collaborations between tech and medical giants. For example, Facebook chairman Mark Zuckerberg launched a $3 billion health initiative to prevent, cure or manage all diseases. Many big names in the medical industry were added to this initiative, and it created a lot of buzz around the medical industry. It goes to show that companies are willing to work together for the greater good.